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Yemen boosts spending in 2014 budget by 4%

The Yemeni cabinet has approved a draft budget for next year that would raise state spending about 4% to YR2.88trn ($13.4bn) from the original 2013 budget plan, Reuters has reported. Finance minister Sakhr Al-Wajeeh said that next year the government would work harder to generate revenue from the nonoil sector, taxes and customs duties. The 2014 draft budget, which still needs approval by parliament, projects a deficit of around YR679bn, compared with a deficit of YR682bn envisaged in the original 2013 budget. Estimated revenue for 2014 is around YR2.2trn, up about 6% from the 2013 budget plan.